Highlights
- Peter Arlein seeks $250,000 for 10% equity in Mountainflow Eco Wax, a plant-based alternative to traditional ski wax, which is environmentally harmful.
- Barbara Corcoran and Kevin O’Leary offer $300,000 for 20% equity, and Peter accepts their offer.
- Despite the deal not closing, Mountainflow Eco Wax expanded its product line and received a $250,000 state grant, reaching $3 million in annual revenue by 2024.
Overview
| Category | Details |
|---|---|
| Name | Mountainflow Eco Wax |
| Founder | Peter Arlein |
| Industry | Outdoor Sports and Recreation |
| Product | Plant-based ski wax and eco-friendly outdoor products |
| Funding Sought | $250,000 |
| Investment Ask | $250,000 |
| Equity Offered | 10% |
| Valuation | $2,500,000 |
Peter Arlein introduces Mountainflow Eco Wax, his plant based ski wax line, in Shark Tank episode 1208. Traditional ski wax contains petroleum products and/or fluorocarbon particles rub off in the snow and make their way to the watershed. With a plant based wax, there are zero pollutants.
The company’s first product was a water based spray that prevents snow from building up on the top of skis. In 2017, they began two years of testing hundreds of formulations for their plant based wax. They got the ball rolling for their wax with a successful Kickstarter campaign that raised $21,506 back in October, 2019.
As a company, they have a mission. They use post consumer recycled materials in their packaging and they are certified as a bio based business by the USDA. As for the wax, they range in price from $13.95 to $27.95, depending on what it’s used for. Many ski areas are starting to carry Mountainflow and REI carries the products, but most sales are done on the company website. They probably want a Shark’s help with inventory needs. Will a Shark invest in this wax business?
Company Information
Video
Posts about Mountainflow Eco Wax on Shark Tank Blog
Mountain Flow Eco Wax – Ski Wax
Mountainflow Eco Wax Shark Tank Recap
Peter enters seeking $250,000 for 10% of his company. Peter explains the product and hands out samples. He says he wants a Shark to help him expand into the international market.
He claims new international laws are being written to ban petroleum based waxes, which would obviously put the company in a good position. Sales in 2019 were $150,000 and in 2020 he’s on track to do $750,000.
Did Mountainflow Eco Wax Get a Deal on Shark Tank?
Mark and Lori aren’t skiers and they opt out of the deal fairly quickly. Barbara says she hasn’t met a man who can out ski her. She offers $250,000 for 20%. Mr. Wonderful then offers $250,000 for 15%. Barbara then offers to team up with Kevin and they offer $250,000 for 20% – 10% each.
Daymond offers $250,000 for 25% and says he’ll bring pro skier Lindsey Vonn into the deal. Peter says he already has pro skiers on board and 25% is too much. He asks Barbara and Kevin to drop their percentage. Instead they offer $300,000 for 20% and Peter accepts.
The episode taped in September 2020, so March 2021 is only 6 months out. While there is no evidence of this deal closing on Barbara or Kevin’s websites, they could still be in due diligence.
Mountainflow Eco Wax Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The first re-run of this episode occurred less than two months after the original air date. Finalizing deals can take up to a year. Peter’s Colorado area media did a bunch of stories highlighting the deal, so things could still be moving forward. We’ll update as new information becomes available.
As of July, 2021, it looks as if this deal did not close. The company also added bike lubricants and recycled aluminum ski poles to its line and sponsored its own ski team. In 2023, the company received a $250,000 state grant from the Colorado Office of Economic Development and International Trade as part of its Advanced Industries Accelerator program. The grant will fund research and development for a new line of eco-friendly liquid glide wax. As of August, 2024, annual revenue for this business is $3 million.
